Bank of America Corp DE Has $185.34 Million Position in Prudential Financial, Inc. $PRU

Key Points

• Bank of America increased its Prudential Financial stake by 9.7% in the first quarter, holding 1.90 million shares valued at approximately $185.34 million. Institutional investors collectively own 56.83% of PRU.
• Prudential exceeded second-quarter earnings expectations, reporting adjusted operating income of $4.08 per share versus the $3.52 consensus, while net income rose to $985 million. Revenue of $14.15 billion was slightly below forecasts, and a $299 million assumption-update charge weighed on results.
• Analyst sentiment remains cautious, with a MarketBeat consensus rating of “Reduce” and an average price target of $105.46. Prudential recently paid a $1.40 quarterly dividend, representing a $5.60 annualized payout and a 4.5% yield.

Bank of America Corp DE boosted its stake in shares of Prudential Financial, Inc. (NYSE:PRU - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,897,227 shares of the financial services provider's stock after purchasing an additional 168,156 shares during the period. Bank of America Corp DE owned about 0.55% of Prudential Financial worth $185,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jessup Wealth Management Inc acquired a new position in shares of Prudential Financial in the fourth quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in Prudential Financial during the fourth quarter valued at $26,000. Salomon & Ludwin LLC grew its stake in Prudential Financial by 98.3% in the fourth quarter. Salomon & Ludwin LLC now owns 230 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 114 shares in the last quarter. Basepoint Wealth LLC acquired a new position in Prudential Financial in the 4th quarter worth about $30,000. Finally, Coston McIsaac & Partners increased its position in Prudential Financial by 93.4% in the 4th quarter. Coston McIsaac & Partners now owns 265 shares of the financial services provider's stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 56.83% of the company's stock.

Key Stories Impacting Prudential Financial

Here are the key news stories impacting Prudential Financial this week:

• Positive Sentiment: Adjusted earnings exceeded expectations. Prudential reported second-quarter after-tax adjusted operating income of $1.438 billion, or $4.08 per share, up from $3.58 a year earlier and $0.56 above the analyst consensus of $3.52. MarketBeat earnings report
• Positive Sentiment: Net income and balance-sheet metrics improved. Net income attributable to Prudential rose to $985 million, or $2.80 per share, from $533 million, or $1.48 per share, in the year-ago quarter. Book value per share increased to $90.50 from $85.98, while parent-company highly liquid assets rose to $4.2 billion. Prudential second-quarter results
• Positive Sentiment: Asset growth and shareholder returns supported the investment case. Assets under management reached $1.642 trillion, with PGIM assets up 4% year over year to $1.491 trillion. Prudential returned $743 million to shareholders through $493 million of dividends and $250 million of share repurchases. Quiver Quantitative earnings summary
• Neutral Sentiment: Revenue was slightly below forecasts. Quarterly revenue totaled approximately $14.15 billion, versus the $14.36 billion consensus estimate, tempering the otherwise strong earnings report.
• Negative Sentiment: An assumption-update charge reduced reported results. The quarter included a $299 million after-tax charge, or $0.85 per share, related to the annual assumption update and other refinements, up from a $134 million charge a year earlier. Investors may seek further detail during Prudential’s earnings call on August 5. Prudential Financial second-quarter 2026 results

Wall Street Analyst Weigh In

Several brokerages recently commented on PRU. UBS Group lowered their price target on Prudential Financial from $105.00 to $98.00 and set a "neutral" rating for the company in a research note on Thursday, April 9th. Bank of America reduced their target price on shares of Prudential Financial from $112.00 to $104.00 and set a "neutral" rating for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. increased their price target on shares of Prudential Financial from $117.00 to $129.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. TD Cowen raised their price target on shares of Prudential Financial from $102.00 to $114.00 and gave the company a "hold" rating in a report on Wednesday, July 22nd. Finally, Barclays lifted their price objective on shares of Prudential Financial from $90.00 to $92.00 and gave the company an "underweight" rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $105.46.

Prudential Financial Stock Up 0.3%

PRU opened at $123.34 on Wednesday. Prudential Financial, Inc. has a twelve month low of $91.89 and a twelve month high of $124.57. The firm has a market cap of $42.80 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 2.44 and a beta of 0.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.16 and a current ratio of 0.16. The business has a 50 day moving average price of $111.66 and a 200 day moving average price of $104.53.

Prudential Financial (NYSE:PRU - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $4.08 earnings per share for the quarter, topping analysts' consensus estimates of $3.52 by $0.56. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.36 billion. Prudential Financial had a net margin of 5.83% and a return on equity of 16.33%. During the same period in the previous year, the company earned $3.58 earnings per share. Research analysts forecast that Prudential Financial, Inc. will post 13.86 EPS for the current year.

Prudential Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Tuesday, May 26th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, May 26th. This represents a $5.60 annualized dividend and a yield of 4.5%. Prudential Financial's dividend payout ratio is presently 57.61%.

Insider Buying and Selling

In other news, major shareholder Insurance Co Of Ame Prudential sold 214,746 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $24.75, for a total transaction of $5,314,963.50. Following the completion of the transaction, the insider directly owned 7,973,657 shares in the company, valued at $197,348,010.75. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Prudential Financial Company Profile

Prudential Financial, Inc, headquartered in Newark, New Jersey, is a diversified financial services company with roots dating to 1875. The firm provides a range of insurance, retirement and investment products aimed at helping individual and institutional clients manage risk, accumulate and protect wealth, and plan for retirement. Prudential's long history in life insurance and related financial services has positioned it as a major participant in the U.S. insurance market and a provider of services to a broad client base.

Prudential's core business activities include individual life insurance, annuities, retirement solutions and group insurance products for employers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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